Christian Kurasek, Pronto | theCUBE + NYSE Wired Robotics & AI Media Week

Summary

In this insightful conversation on theCUBE, Christian Kurasek, CFO of Pronto AI, discusses the company's innovative approach to autonomous trucking, specifically in mining and quarrying industries. Pronto AI focuses on commercializing autonomy today rather than waiting for five years, with a profitable strategy starting in controlled environments. The company uses a lighter tech stack, relying on cameras and basic sensors to retrofit existing trucks and make them autonomous. With impressive productivity and safety improvements, Pronto AI is on track to revolutionize the mining industry, ensuring safer operations and significant cost savings. Their future goal is to automate all wheeled machinery, expanding beyond haulage into other sectors.

Takeaways

• 😀 Pronto AI is focused on commercializing autonomous technology today, specifically in controlled environments like mining and quarrying, where safety and labor constraints are significant challenges.
• 😀 The mining industry is a trillion-dollar global economy, and Pronto AI aims to automate mining trucks to address productivity, safety, and labor shortages, with the goal of being the world's first profitable autonomous vehicle company.
• 😀 Pronto AI's strategy is to start with large mining trucks, offering a profitable entry into the market, and then expand to other types of autonomous equipment.
• 😀 Autonomous mining trucks can reduce human labor costs significantly, with some trucks costing millions of dollars to operate, and the potential for 20% more productivity without human drivers.
• 😀 The company uses a camera-only sensor system, avoiding expensive LIDAR technology, to make the autonomous system more affordable, simple to deploy, and easy to maintain.
• 😀 Pronto AI avoids building its own trucks and instead retrofits existing ones. The market for retrofitting is vast, with over 75,000 haul trucks worldwide that could be converted to autonomous operation.
• 😀 Safety is a major focus, with autonomous trucks eliminating human drivers from dangerous situations and reducing fatalities and injuries associated with traditional mining operations.
• 😀 Pronto AI's focus is on improving the economics of mining and haulage by increasing productivity, reducing labor needs, and minimizing maintenance costs with autonomous vehicles.
• 😀 The company has secured partnerships with major mining and quarrying companies, including Heidelberg Materials, to deploy over 100 autonomous trucks worldwide in the next three years.
• 😀 The company aims to expand its offerings by automating other pieces of mining equipment, like loaders and excavators, and eventually to other industries like ports, where automation is technically feasible but politically challenging.

Q & A

What is the primary business model of Pronto AI?

Pronto AI focuses on commercializing autonomous vehicle technology today, particularly in mining and quarrying industries. They aim to automate vehicles like mining trucks in controlled environments, where safety and labor constraints are significant. Their goal is to become the first profitable autonomous vehicle company.

Why did Pronto AI choose mining and quarrying industries for their initial market?

Pronto AI chose mining and quarrying industries because they provide a controlled environment, high safety considerations, labor shortages, and a huge market potential. It's also a trillion-dollar segment of the global economy where automation can solve pressing operational challenges.

How does Pronto AI plan to address the labor shortage in the mining industry?

Pronto AI aims to address the labor shortage by automating trucks used in mining and quarrying, eliminating the need for human drivers in hazardous environments. This reduces labor dependency and increases efficiency.

What are the key advantages of autonomous trucks in the mining sector?

Autonomous trucks offer significant advantages, including increased productivity (up to 20%), reduced maintenance costs (such as tire wear and brake usage), and a 75% reduction in operator costs. The technology also enhances safety by taking humans out of potentially dangerous environments.

What is the technology stack used by Pronto AI for their autonomous trucks?

Pronto AI uses a camera-only technology stack, along with IMUs and GPS for navigation. This simplified tech approach reduces costs and complexity, making it easier to deploy and maintain compared to competitors that use more expensive systems like LIDAR.

What is Pronto AI's strategy regarding retrofitting existing trucks for autonomy?

Pronto AI is focused on retrofitting existing trucks rather than building new ones. They are working with dealers and OEMs to help customers retrofit their fleets, extending the lifespan of existing trucks while making them autonomous.

How does Pronto AI address safety concerns in autonomous mining vehicles?

Pronto AI enhances safety by removing humans from hazardous environments, such as those in mining. Autonomous trucks are less prone to human errors like fatigue or accidents, and their sensors help prevent incidents like truck flips or collisions.

How does Pronto AI plan to expand its technology beyond mining trucks?

Pronto AI's vision is to automate all vehicles with wheels, starting with off-road haulage trucks. They are also considering expanding into other mining equipment such as loaders, excavators, and dozers, and even ports, where the technology could be easily applied.

What has been the business traction of Pronto AI so far?

Pronto AI has made significant progress, securing partnerships with major players in the mining industry. They recently signed a global partnership agreement with Heidelberg Materials to deploy over 100 autonomous trucks worldwide, and they are in talks with the world's top 10 mining companies.

How does Pronto AI's autonomous vehicle solution compare to traditional solutions in terms of cost?

Pronto AI's solution is more affordable than traditional systems, with their technology costing up to 10 times less than competitors. This makes it economically viable for a broader range of mining operations, from smaller to larger trucks.